The first wave of COVID bankruptcies has arrived Updated: February 26 Published February 26
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Print article A New Albany, Ohio, music school offering piano, guitar and violin lessons racked up nearly $1 million in loans and $35,000 in credit card debt. A fine dining restaurant in Providence, R.I., received more than $450,000 in federal small-business funds to help pay workers but still had to close its doors. A nonprofit overseeing the Kit Carson Home and Museum in Taos, N.M., welcomes visitors to learn about the famous frontiersman but listed just $17,000 in assets even after every bone-handled knife, buffalo hide apron and flintlock musket had been tallied.
Bankruptcies are pummeling the real estate, energy, retail and restaurant industries a year into the pandemic
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The wave of covid bankruptcies has begun
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Country Fresh Takes Additional Steps to Reorganize in Advance of Proposed Sale
02/17/2021 | 06:38pm EDT
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Country Fresh” or the “
Company”) announced today that its Canadian subsidiaries, Sun Rich Fresh Foods Inc., Tiffany Gate Foods Inc. and TGF Acquisition Parent Ltd. have filed for protection under the
Companies’ Creditors Arrangement Act (Canada) (“
CCAA”) pursuant to an Order (the “
Initial Order”) of the Ontario Superior Court of Justice (Commercial List) (the “
Canadian Court”).
The CCAA filing follows an earlier filing by the Company’s U.S. affiliates under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas. The U.S. and Canadian proceedings will operate as parallel main proceedings, with the common goal of facilitating a Court-supervised solicitation and sales process in respect of the assets of the Company (the “